Tagged: Economy

Unit Entities in a Trusteeship Economy

When the basic principles of satconomy were being elucidated, trusteeship-based economy as promoted by M.K. Gandhi was neither followed nor considered in detail. However, as soon as the the concept of specialized unit entities became inseparable from the notion of independent currency brands, it became clear that satconomy was a special implementation of trusteeship economics.

Trusteeship is based on the management and use of one’s wealth and resources for the benefit of the community. It differs from communism or socialism in that the trustee is neither coercively deprived of private ownership nor specifically supervised by state authorities. On the other hand, trusteeship differs from capitalism in that the trustee is expected to benefit the ‘whole’ – community, market, society – and not merely to  maximize  ‘owner’ profits. In simplified terms, ownership is predicated on being a good trustee.

But what if the trustee was found to be untrustworthy? What if the trustee was not managing its resources for the benefit of the ‘whole’? Who should make that determination, who should take action, and what would be considered as appropriate action?

Satconomy provides answers to those questions through the use of entity-specific currency brands. The effectiveness of an entity as a trustee is symbolized by its currency brand, which its members earn for contributions made to the entity’s specialization and goals. If a market participant determines that the entity is not a responsible trustee, then that individual may choose to not work for that entity and/or reject that entity member’s currency in a transaction. Satconomy encourages market participants to not buy from irresponsible entities AND to reject any currency brand that are individually perceived as representing unsustainable market activities.

To specifically answer the questions posed earlier: In satconomy, each market participant is encouraged to make an independent and informed evaluation of an entity’s effectiveness as a trustee. A market participant does not have to evaluate all of the known market entities and currency brands, but rather, only those that he or she might be economically involved in through a work or trading relationship. If an entity is determined to be untrusworthy, then the appropriate action would be for the individual evaluator to noncooperate with the irresponsible trustee. Each satconomy participant is expected to actively help regulate the market through the acceptance or rejection of entity-specific currency brands.

From this expectation of a highly informed and involved market, the primary challenge in satconomy becomes how to offer universally accessible and up-to-date information about market entities. In meeting that challenge, satconomy would promote the open establishment of cumulative perceptions regarding a trustee’s performance.